Ant International and UBS signed a memorandum of understanding to cooperate in the field of blockchain-based cross-border payment and settlement.

According to the South China Morning Post, Ant International, an independently operated subsidiary of Ant Group, is accelerating the expansion of its global treasury management business through a strategic partnership with UBS Group AG.

The two companies also plan to jointly explore innovative financial applications such as tokenized deposits based on blockchain technology.

According to a memorandum of understanding signed recently at UBS's Singapore office, Ant International will integrate with UBS's blockchain payment platform, "UBS Digital Cash," launched last year, to support the daily operations of its global treasury management business.

This collaboration is expected to significantly improve the efficiency, transparency, and security of treasury management processes. The two companies jointly announced the news on Monday.

Furthermore, the two companies will also focus on joint innovation in the field of tokenized deposits. The collaboration includes an "interconnected solution" that plans to integrate Ant International's self-developed blockchain treasury management platform, Whale.

By technically connecting the Whale system with UBS's digital cash platform, the two companies hope to build a more efficient and traceable fund flow mechanism, further promoting the application of enterprise-level blockchain in cross-border fund management.

This collaboration is not only an important step in Ant International's global business layout, but also reflects the cutting-edge exploration of blockchain integration between financial institutions and technology companies, and is expected to provide a new paradigm for the development of digital financial infrastructure.